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BAYC Announces Jimmy The Monkey Lore

Helium moves to Solana + more NFT news

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Von Doom & Gannon Breslin
December 21, 2022

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gm, we hope everyone is having a great week so far!

Here is the breakdown of today's newsletter:🐒 BAYC major lore announcements #jimmythemonkey🌎 Helium network moves to Solana

  • Renowned project Aaevegotchi just dropped some cool Christmas merch. (@aavegotchi)

  • Trumps' NFT collection hasn't held up well after the big weekend as the floor for the project is down nearly 70%. (DC)

  • Co-Founder of Yuga Labs tweets an ominous message pertaining to BAYC royalties. Check it out here.

  • Polkastarter Gaming dropped a list of the most promising games in Web 3 to date, check it out here. (@PolkastarterGG)

  • Will Ikea soon be selling furniture that is linked to special NFTs? Space10 proposes the idea. (DZ)

  • The executive of Magic Eden has compared NFT-infused games to the early days of mobile gaming. See their full statement here. (TC)

  • A reward centre is to be launched for y00ts and DeGods holders on Christmas day with a WWDC-style DeLabs Keynote video that will reveal the DeGods and y00ts season III & 2 seasons. (@frankdegods)

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New BAYC Update: Jimmy the Monkey 🐵

With their new CEO announced this week, Yuga Labs set the tone for the next year. Along with this bombshell news, Bored Ape Yacht Club, an entity of Yuga, announced yesterday that they are kicking off a new chapter of BAYC that many have been waiting for: Jimmy the Monkey.

💡 While details still remain slim, there are a few things that we know:

  • The trial of Jimmy the Monkey will begin today, with a short film to commemorate the event.

  • According to the BAYC team, the narrative will change constantly, with holders being told to “pay attention to the signs” and that “details might be important down the line.” That being said, this has the remanence of BAYC’s scavenger hunt that began back in September of 2021.

  • The journey will transition into an interactive mint that will take place sometime in late January 2023. In the mint process, BAYC holders will be asked to test their skills, which we assume are clues that are injected into the narrative.

  • BAYC and MAYC holders that also hold a BAKC will be in a different tier than every other holder. That being said, the floor of BAKC went from 5.6 ETH to about 7 ETH, at the time of writing.

To see the entire thread:

💡The Drop NFT projects that have come to fruition over the last year have a responsibility to keep their story going. With many projects, the narrative has come to a standstill, however, BAYC still remains at the top. People have been wondering: what’s next? And of course, if these organizations want to succeed in the future, they must create and build during times when others are not. We, at The Drop, are very excited to embark on this new journey, and we can’t wait to see what Jimmy the Monkey leads us to. WAGMI.

Helium Migrates To Solana 🌎

Late last week, Helium the People-Powered Networks made a prodigious announcement. Through their foundation's Twitter page, Helium announced its migration to the Solana Blockchain in Q1 of 2023 and the launch of its Hotspots NFTs on the Solana Blockchain.

“Ton of progress on migrating chain data to Solana mainnet” the foundation announced, stating that the implementation is almost code-complete and ready for third-party auditing. Besides the on-chain data, there are upgrades to the voter stake registry and the SPL Governance UI (Realms) that allow Helium-style voting. These features were added to smart contracts for DC costs by Pyth's price Oracle. The migration into the Solana blockchain will see all their available decentralized wireless network hotspots represented by NFTs on the Solana blockchain, introducing about a million new NFTs into the Solana ecosystem.

💡The DropAnd as highlighted in the announcement, the team is already working on NFT compression technology to reduce the cost of minting about 1 million Hotspots. The entire Helium chain, including 700,000 wallets, one million hotspot NFTs, multiple token balances, and other chain data, was going to be compressed into 32 bytes. The non-profit foundation is also expecting a 24-hour downtime on chain functionalities as the migrating chain reaches its completion for token rewards and has confirmed that Helium Oracles would already be running Data Transfer Accounting and Proof of Concept (PoC). What this means is, rewards and network transfers would be retained.

Sponsored Content: This newsletter was sponsored by evaluate.xyz

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. 

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